Most newspapers and weblogs are downbeat, expressing shock and disbelief at the decision, some calling Paris' defeat a national tragedy, while others criticised London's lobbying tactics.
Editorials speak of a personal defeat for President Jacques Chirac, a triumph of British "dynamism" over an "unattractive" French model, and a country struggling with its identity in the face of globalisation.
"France KO'd," reads the front page of the daily France Soir. "Paris' Olympic defeat is a painful blow for a country already pretty depressed."
France is having a hard time finding a comfortable place on the international stage, the paper says, and "adding naivete to arrogance, it has in the end made many of its partners fed up."
The defeat, the paper says, is "an alarm for a cowering France which is no longer managing to make its model attractive."
'Bludgeon'
"London destroys Paris' dream," says the right-leaning daily Le Figaro, which credits UK athlete Lord (Sebastian) Coe, who spearheaded the London bid, with the victory.
"Jacques Chirac missed a great opportunity to restore morale to an 'old country' feeling morose and fearful of globalisation"
Paris is "bewildered, crushed", says the paper. The French capital's loss "is felt as a tremendous disappointment by the entire French political class and by the sporting world."
It adds: "This failure (the third in 20 years) looks like a real blow from a bludgeon - like a sharp check even."
The UK's "dynamism" compared to an "inward-looking" France may also have seduced the International Olympic Committee (IOC), the paper says.
It feels that Paris' efforts have "doubtless suffered the negative effects of France's current image on the international scene."
"Why London?" ran the headline in sports daily L'Equipe, saying it "overstepped the mark".
The paper says: "The miraculous survivor London (...) knew how to work every tactic from aggressive marketing to pure rabble-rousing, promising a better a future to the underprivileged youth of the world."
The centre-left daily Le Monde describes London's selection as a victory for UK Prime Minister Tony Blair over President Chirac.
"Paris has lost and her torturer is London," the daily writes. "Tony Blair has triumphed once again over Jacques Chirac....This is another personal setback for French President Jacques Chirac.
"Jacques Chirac missed a great opportunity to restore morale to an 'old country' feeling morose and fearful of globalisation."
On a more light-hearted note, the left-leaning daily Liberation exclaims: "Thank you for playing, Paris, and bravo Tony", and says that London's triumph is logical.
"On the French side, the Games were seen too much as a useful screen to mask the national breakdown," it says. "It is hard to be centre-stage when you are doubting your role to that extent."
'Congratulations London'
"Disbelief, tears... it's hard to lose in this way when you believed in it so strongly," writes Marie Lalleman in her e-reporters weblog.
In his blog entitled "Waterloo again", Michel de Guilhermermier writes: "The 2012 games go to London, which, you have to admit, is at the moment an incredible city, very dynamic, cosmopolitan, creative, passionate and very wealthy."
David Sporn on Sporniket is thankful that the games are not going to Paris. "I'm relieved that my taxes will now not be wasted on this enormous sporting circus," he writes.
Eric on Blogger says: "My thoughts go to all people who worked on this project and forgot for a while their political differences. And, by the way, congratulations to London."
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